What is the role of mentors and advisory boards in early-stage entrepreneurship?

• A. Provide day-to-day management decisions.
• B. Provide guidance, networks, credibility, governance support, and helpful fundraising introductions.
• C. Replace the founding team.
• D. Perform all product development.

Answer: (B)

The main idea here is that mentors and advisory boards provide strategic support and access to resources that help an early-stage startup grow. They offer practical guidance from experience to shape high-level decisions, connect you with important networks—customers, partners, and potential investors—boost your credibility through the association with respected individuals, support governance and accountability as you scale, and often facilitate introductions that aid fundraising. They’re not there to handle day-to-day management, replace the founding team, or take on product development; those are core founder responsibilities. The described role—guidance, networks, credibility, governance support, and fundraising introductions—best captures what mentors and advisory boards contribute at this stage.